AP®︎ World History: Topic 9.4 Flashcards

Increasing integration of national economies through cross-border flows of goods, services, capital, technology, information, and production

An economy in which private individuals and businesses make most production, pricing, investment, and exchange decisions through markets

Reducing government restrictions on private enterprise and international exchange through measures such as privatization, deregulation, and freer trade

Late twentieth-century ideology favoring privatization, deregulation, free trade, lower taxes, and reduced state direction of the economy

Transfer of a state-owned enterprise or public service to private ownership

Reduction of government rules governing businesses, prices, finance, labor, or investment

Reduction of tariffs, quotas, and other barriers to imports and exports

Investment by a foreign firm to build facilities, purchase businesses, or establish joint ventures in another country

British prime minister, 1979–1990, who privatized state enterprises, reduced some taxes, weakened unions, and promoted competition

U.S. president, 1981–1989, who promoted tax cuts, deregulation, private enterprise, and reduced organized labor’s influence

China’s dominant leader after 1978 who introduced markets, private enterprise, foreign investment, and export zones while retaining Communist rule

Deng Xiaoping’s program of expanding markets, private activity, foreign investment, and export-oriented production in China after 1978

Chilean military dictator, 1973–1990, who cut tariffs and spending, privatized enterprises and pensions, and encouraged foreign investment

Spread of computers, telecommunications, digital networks, cellular communication, and the internet, sharply reducing the cost of transmitting information

An economy relying heavily on education, research, information, technical expertise, innovation, intellectual property, and professional services

Offshoring moves an activity to another country; outsourcing hires an outside firm to perform it, whether domestic or foreign

Production systems dividing research, components, assembly, marketing, and sales among locations in multiple countries

Worldwide specialization in which different regions perform different economic roles based on wages, skills, capital, resources, and power

A growth strategy based on attracting investment and manufacturing goods for foreign markets, prominent in China, Vietnam, Bangladesh, Mexico, and Honduras

Vietnam’s 1986 renovation reforms expanding markets, private enterprise, foreign investment, and exports while preserving Communist Party rule

Mexican factories, especially near the U.S. border, that import components, assemble or process them, and export finished products

A business owning, controlling, or managing operations in multiple countries, such as Nestlé, Nissan, or Mahindra & Mahindra

Institution founded in 1995 to negotiate and monitor trade rules and resolve disputes among member states, succeeding GATT.

1994 agreement reducing trade and investment barriers among Canada, Mexico, and the United States; replaced by USMCA in 2020

Regional organization founded in 1967 that later reduced trade barriers and promoted investment and economic integration in Southeast Asia

Decline of factory production and industrial employment in older manufacturing regions as plants close or production relocates

Designated areas offering favorable taxes, regulations, infrastructure, or market access to attract foreign investment and production

Designated areas offering favorable regulations, taxes, infrastructure, or trade access for businesses producing goods for export

Loan-linked reform programs promoted by the IMF and World Bank that often required reduced public spending, privatization, and trade liberalization